Poor Man's Covered Calls #investment #strategy #options

A Poor Man's Covered Call (PMCC), or Synthetic Covered Call, is used to generate regular income as per the standard Covered Call, but instead of purchasing 100 shares of stock, a Deep ITM Call (which is often a long-dated LEAP) is bought.

1. Purchase a deep in the money long-dated Call
2. Write/sell a nearer-dated near-the-money Call

Step by Step Tutorial